11 August 2014 - The former chairman of Sun Hung Kai Properties, Walter Kwok Ping-sheung, recently formed a new company and renamed 2 existing companies to rebuild his property business.
Kwok revamped two of his privately owned real estate related companies in June and July this year, following which his “Empire Group Holdings Limited” co-operated with Lai Sun Development (0488) to win a plot of land (Area 68A2) in Tseung Kwan O.
This joint development project is a 50:50 joint venture between Empire Group Holdings Limited and Lai Sun Development. Sources say that Kwok is now looking for a shell company to set up a listed company for his property empire. These rumours have caused Lai Sun Group’s share prices to rise significantly.
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